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HONG KONG, June 24 China shares ended higher on
Tuesday, with strong gains in makers of the country's fiery
liquor baijiu led by Kweichow Moutai after media
reports that some local governments have introduced policies to
support the sector.
The Shanghai Composite Index rose 0.5 percent to
2,033.93 points. The CSI300 of the leading Shanghai
and Shenzhen A-share listings also advanced 0.5 percent.
Moutai was the biggest boost for both indexes, climbing 4.6
percent to its highest since April 30, following a 2 percent
rise on Monday.
Smaller rivals Sichuan Swellfun surged the
maximum allowed 10 percent in Shanghai, while Anhui Gujing
Distillery and Jiugui Liquor both gained
about 4 percent in Shenzhen.
Chinese Universe Publishing And Media soared the
maximum 10 percent as it resumed trading on Tuesday after
announcing plans to acquire an Internet company for 2.66 billion
yuan ($428.41 million).
Elderly care-related stocks were also broadly stronger after
China said late on Monday it will allow retirees to take out
bank loans against their homes to pay for their living expenses
under a pilot programme in four cities.
($1 = 6.2090 Chinese Yuan Renminbi)
(Reporting by Grace Li; Editing by Kim Coghill)